Apple's iPhone 16 Goes on Sale Today Without Latest AI Features

KEY TAKEAWAYS

• Apple's latest smartphone, the iPhone 16, will be available in stores starting today, following disappointing Wall Street feedback from pre-order data.
• Potentially weighing on the models' popularity is that the tech giant's AI model, Apple Intelligence, won't be available immediately but will come later as a free software update.
• In the lineup for sales at almost 60 countries globally are the standard the 16 and 16 Plus models, as well as the higher-end Pro and Pro Max.

Apple's (AAPL) latest smartphone, the iPhone 16, will be available in stores starting today, following disappointing Wall Street feedback from pre-order data.

Potentially weighing on the models' popularity is that the tech giant's AI model, Apple Intelligence, won't be available immediately but will come later as a free software update.

Further, aside from a "camera control" button that will let users take pictures or change settings while keeping a hand on the side of the phone, the new model "has only modest upgrades from prior models," Bloomberg reported.

Latest iPhone on Sale in Almost 60 Countries

In the lineup for sales at almost 60 countries globally are the standard the 16 and 16 Plus models, as well as the higher-end Pro and Pro Max.

Pre-orders began last week, with early indications showing the various models had shorter average delivery times across a number of key markets—suggesting a combination of lower sales volume and higher supply.

Apple shares rose less than 1% an hour after the opening bell Friday. They have gained almost 20% year-to-date.

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